Common use of No Right to Continued Employment; No Rights as Shareholder Clause in Contracts

No Right to Continued Employment; No Rights as Shareholder. Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, including as an Employee, Consultant or Director of the Company or any Affiliate of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant’s Continuous Service at any time, with or without Cause. The Participant shall not have any rights as a shareholder with respect to any shares of Common Stock subject to the Option prior to the date of exercise of the Option, including, but not limited to, with respect to any dividends or other distributions for which the record date is prior to the date on which the Option is exercised.

Appears in 7 contracts

Samples: Nonqualified Stock Option Agreement (First Us Bancshares Inc), Nonqualified Stock Option Agreement (First Us Bancshares Inc), Nonqualified Stock Option Agreement (United Security Bancshares Inc)

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